- Platinum reversed from resistance zone
- Likely to fall to support level 1350.00
Platinum recently reversed down from the resistance zone located between the round resistance level 1500.00, upper daily Bollinger Band and the resistance trendline of the daily up channel from May.
The downward reversal from this resistance created the daily Japanese candlesticks reversal pattern Bearish Engulfing.
Given the weakening daily Momentum (showing bearish divergence), Platinum can be expected to fall to the next support level 1350.00 (low of the previous correction 4).
- Likely to fall to support level 1350.00
Platinum recently reversed down from the resistance zone located between the round resistance level 1500.00, upper daily Bollinger Band and the resistance trendline of the daily up channel from May.
The downward reversal from this resistance created the daily Japanese candlesticks reversal pattern Bearish Engulfing.
Given the weakening daily Momentum (showing bearish divergence), Platinum can be expected to fall to the next support level 1350.00 (low of the previous correction 4).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to [email protected] for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to [email protected] for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to [email protected] for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to [email protected] for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.